Economist at UOB Group Enrico Tanuwidjaja and Haris Handy reviewed the latest FX reserves figures in Indonesia. Key Quotes “Indonesia’s foreign exchange reserves increased by USD 1.2bn to USD 131.7bn in June 2020, almost beating the record-high of USD 132bn in Jan 2018. The latest reserve level was equivalent to 8.4 months of import financing or 8.1 months of imports and payments of government external debt.” “The increase in June’s foreign exchange reserves was driven by the government’s global Sukuk issuance. Going forward, we might see a further moderate build-up in FX reserves on the back of capital inflows as foreign investors’ confidence in Indonesia’s economy improves. In addition, better market conditions from three months ago also reduce the need for BI to conduct market interventions. Nevertheless, the downside risks remain as Indonesia continue to record new COVID-19 cases coupled with the possibility of 2nd wave of COVID-19 outbreak which may result in capital outflows.” FX Street FX Street FXStreet is the leading independent portal dedicated to the Foreign Exchange (Forex) market. It was launched in 2000 and the portal has always been proud of their unyielding commitment to provide objective and unbiased information, to enable their users to take better and more confident decisions. View All Post By FX Street FXStreet News share Read Next Breaking: Gold breaks above $1,800, new mutli-year high, next levels eyed FX Street 3 years Economist at UOB Group Enrico Tanuwidjaja and Haris Handy reviewed the latest FX reserves figures in Indonesia. Key Quotes “Indonesia’s foreign exchange reserves increased by USD 1.2bn to USD 131.7bn in June 2020, almost beating the record-high of USD 132bn in Jan 2018. The latest reserve level was equivalent to 8.4 months of import financing or 8.1 months of imports and payments of government external debt.” “The increase in June’s foreign exchange reserves was driven by the government’s global Sukuk issuance. Going forward, we might see a further moderate build-up in FX reserves on the back of capital inflows as… Regulated Forex Brokers All Brokers Sponsored Brokers Broker Benefits Min Deposit Score Visit Broker 1 $100T&Cs Apply 0% Commission and No stamp DutyRegulated by US,UK & International StockCopy Successfull Traders 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 2 T&Cs Apply 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 3 Recommended Broker $100T&Cs Apply No deposit or withdrawal feesTrade major forex pairs such as EUR/USD with leverage up to 30:1 and tight spreads of 0.9 pips Low $100 minimum deposit to open a trading account 9 Visit Site FreeBets ReviewsYour capital is at risk. 4 T&Cs Apply Visit Site FreeBets ReviewsYour capital is at risk. 5 Recommended Broker $0T&Cs Apply Trade gold, silver, and platinum directly against major currenciesUp to 1:500 leverage for forex trading24/5 customer service by phone and email 9 Visit Site FreeBets ReviewsYour capital is at risk.